Key Themes

Financial Capability can be divided into three connected themes – financial knowledge and understanding, financial skills and competence, and financial responsibility.  The themes overlap and are interrelated.  Together, they form the basis for strong financial capability.


1. Financial knowledge and understanding

Helping pupils to understand the concept of money.

This means gaining knowledge and understanding of the nature of money and insight into its functions and uses.

Desired Outcomes
Pupils will:

  • develop the skills required to deal with everyday financial issues; and
  • be able to make informed decisions and choices about personal finances.

2. Financial skills and competence

Helping pupils to deal with day-to-day money management issues and to begin thinking about planning for the future.

This means being able to apply knowledge and understanding of financial matters in both personal situations and situations beyond our immediate control.

Desired Outcomes
Pupils will:

  • be able to identify and tackle problems or issues with confidence; and
  • be able to manage financial situations effectively and efficiently.

3. Financial responsibility

Raising children’s awareness of the wider impact of money and personal financial decisions, not only on their own future, but also on their family and community.

This means understanding how financial decisions can impact not only on the decision-maker, but also on their family and community.

Desired Outcomes
Pupils will:

  • be aware that financial decision and actions are closely linked with value judgements (social, moral, aesthetic, cultural and environmental as well as economic) and therefore have social and ethical dimensions.
key themes